CFEE Guidebook

22 BUILDING FINANCIAL CAPABILITY THROUGH FINANCIAL COACHING Educational Opportunity Program The Educational Opportunity Program (EOP) is a program funded by New York State that provides academic support and financial as- sistance to first-generation students who show academic promise but need support in their transition to college. The services provided are similar to TRIO in that students receive one-on- one counseling and academic monitoring. EOP is another organization whose students benefit from financial coaching, because it provides critical financial skills that complement the ser- vices they are already receiving in the program. Financial Aid College financial aid offices help students and their families apply for and receive various forms of financial aid, including federal grants, loans, work-study, and scholarships. On many college campuses, the office of financial aid offers a range of financial education resources, from workshops to online learning modules. Federal loan programs also require colleges to conduct entrance and exit counseling for their student loan borrowers. In this respect, finan- cial coaching could play an important role in helping students understand the more intricate details of managing student loans, including tracking loan amounts and understanding repayment obligations. Student Government and Student Clubs Every community college has a student govern- ment organization or office of student activi- ties. On our campus, the Student Government Association (SGA) is an important presence because it coordinates all of the student-led clubs, organizations, and honor societies. The SGA has been an important partner to the Money Smart Forum in several ways, helping to promote our program and providing funding to support some of our activities. Student clubs are a critical component of community colleges because they are the main way that students can connect with each other and become engaged with the college. Many co-curricular and extracurricular activities are geared to helping students gain leadership and other transferrable skills that can be used in their academic and professional careers. In our coaching program, we worked regularly with several student groups, including the Accounting Club and Alpha Beta Gamma, the business honorary society for two-year colleges, where the club officers and faculty advisors helped promote the value of financial coaching as a way to gain skills that can be used in their professional lives. Benefits Access Benefits access and financial coaching can be complementary services to support students. Most college campuses have a benefits access center or office that assists students to access services such as signing up for public benefits, obtaining health insurance, finding housing, and accessing legal advice. These services often intersect, in that some financial coaching students are in need of public assistance and do not know how to access it. Likewise, many students who need public assistance will benefit from financial coaching as a way to prevent financial emergencies before they actually happen. Career Services The role of career services on most campuses is to help students with a number of career- related skills, such as resumé preparation, interviewing, and job-search strategies. This is an important resource, since most coaching students are seeking new or higher-paying jobs. As part of the coaching process, we may help a student create or update a resumé, but